On November 20, 2012, Farmers & Merchants Bank (Upperco, MD) announced a cash dividend of 50 cents per share, payable December 21, 2012 to shareholders of record as of December 3, 2012. The dividend is up 2 cents per share from the prior cash dividend paid in June.

Farmers and Merchants Bank announced unaudited consolidated earnings results for the three and six months ended June 30, 2012. Net income for the three months ended June 30, 2012 increased 29% to $868,980 compared to $671,598 for the same period in 2011. The increase of $197,382 was due to a $347,971 increase in net interest income, an increase in noninterest income of $63,739, and a decrease in the provision for loan losses of $60,000. Basic and diluted earnings per share were $1.11 against $0.87 of prior year period. The book value of the common stock of the Bank was $32.67 per share at June 30, 2012. Income before income taxes was $1,360,143 against $1,026,272 for the same period last year. Net interest income after provision for loan losses was $2,880,409 against $2,472,438 of prior year period. The bank announced that net income for the six months ended June 30, 2012 was $1,477,551 or $1.89 per share compared to $1,351,658 or $1.75 per share for the same period in 2011. The increase of $125,893 over 2011 was due primarily to a $527,901 increase in net interest income as a result of the continued growth in interest-earning assets and a wider interest margin. Income before income taxes was $2,287,657 against $2,075,862 for the same period last year. Return on average equity was 11.6% for the six months ended June 30, 2012 compared to 11.5% for the same period last year. Return on average assets was 1.14% for 2012 compared to 1.09% in 2011. Net interest income after provision for loan losses was $5,589,995 against $4,922,094 of prior year period.

Farmers & Merchants Bank (Upperco, MD) declared a cash dividend of 48 cents per share payable June 29, 2012 to shareholders of record as of June 8, 2012.